NEW: Murray Will Not Run For Governor

Lieutenant Governor Tim Murray announced on Friday that he will not be running for the state's top office in 2014.

Murray had been contemplating a run for Governor and held several fundraisers in late 2012, but in a letter to supporters the Lieutenant Governor said he decided against a bid for the office in order to devote more time to his family.

"[A]s I contemplate the commitment required over the next 20 months (and the following four years as Governor) and weigh that against my obligations and responsibilities to my young family, I have decided that I will not be a candidate for Governor in the 2014 election cycle. Nor will I be a candidate for any other statewide office in 2014," Murray wrote.

"This decision is not arrived at lightly and comes only after a great deal of reflection and numerous conversations with my wife, family and friends. I am thankful for the support and thoughtful words of encouragement I received from so many of you in the days and months leading up to my decision. I am proud of all we have been able to accomplish together."

Murray was widely viewed as the top candidate to succeed Patrick, who has said he will not seek reelection in 2014.

State Treasurer Steve Grossman and Attorney General Martha Coakley have also been rumored as potential candidates for the Governor's office, but neither has formally announced their intentions publicly.